Canaan Inc. Provides June 2025 Bitcoin Production and | Crypto Work Pro
SINGAPORE, July 7, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining, at this time launched its unaudited bitcoin mining replace for the month ending June 30, 2025.
Management Commentary
“Our June production numbers demonstrated the resilience of our mining operations,” mentioned Nangeng Zhang, chairman and chief government officer of Canaan, “Following a record-breaking May, June manufacturing totaled 88 bitcoins, primarily on account of a short-term discount in working hashrate. The lower was primarily on account of lowered uptime from weather-related curtailment and upkeep. During the month, sure areas of Texas had been impacted by each extreme storms and steady high temperatures, leading to our internet hosting accomplice shutting down some machines for website security in addition to website upkeep. In Ethiopia, our 100% inexperienced mining actions had a decrease uptime on account of seasonal drought-related national electrical energy restrictions.
“Importantly, we continued to construct our bitcoin reserves, closing June with a report high of 1,484 bitcoins in our whole cryptocurrency holdings. This milestone underscores each our financial energy and our long-term dedication to strategically accumulating bitcoin. This marks a new report for our cryptocurrency holdings, reinforcing our financial flexibility and dedication to building strategic bitcoin reserves.
“At the identical time, we continued advancing our North American growth, with roughly 1 EH/s of new computing energy at the moment en path to our U.S. amenities. Installation is on monitor for completion by the tip of July 2025, additional strengthening our operational presence within the area.
“Additionally, in light of ongoing market challenges, we remain focused on protecting shareholder value. We continued executing our stock repurchase program throughout June, demonstrating our confidence in the Company’s long-term prospects and underscoring our disciplined capital allocation strategy.”
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June 2025 Bitcoin Mining Updates (unaudited) |
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Key Metrics |
Results (Rounded Numbers) |
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Bitcoins Mined During the Month |
88 Bitcoins |
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Month-End Bitcoins Owned by Canaan Inc. on |
1,484 Bitcoins |
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Month-End Deployed Hashrate (EH/s) |
8.15 EH/s |
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Month-End Operating Hashrate (EH/s) |
6.57 EH/s |
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Month-End Average Revenue Split[2] |
62.3 % |
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Average All-in Power Cost During the Month[3] |
US$0.045/kWh |
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June 2025 Bitcoin Mining Infrastructure Updates (unaudited) |
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North America |
Non-North America |
Global |
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Month-End Average |
20.1 J/TH |
29.7 J/TH |
26.3 J/TH |
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Month-End Installed |
76.3 MW |
139.6 MW |
216.0 MW |
Notes:
1. Defined as the overall quantity of bitcoins owned by the Company on its Balance Sheet together with any bitcoins receivable, excluding bitcoins that the Company has acquired as buyer deposits.
2. Defined because the weighted average share that Canaan would share from the overall revenues generated based on the relevant joint mining preparations if 100% of the mining machines consisting of Installed Computing Power (as outlined under) had been energized.
3. Defined because the weighted average price of energy if 100% of the mining machines consisting of Installed Computing Power had been energized.
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Current Mining Projects (As of June 30, 2025)： |
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Regions |
Active Mining |
Energized |
Installed |
Expected |
Estimated |
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Global |
9 |
6.57 EH/s |
8.15 EH/s |
0.78 EH/s |
8.94 EH/s |
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America |
4 |
2.60 EH/s |
3.66 EH/s |
1.00 EH/s |
4.66 EH/s |
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Canada |
1 |
0.02 EH/s |
0.02 EH/s |
0 EH/s |
0.02 EH/s |
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Ethiopia |
2 |
3.8 EH/s |
4.22 EH/s |
0 EH/s |
4.22 EH/s |
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Kazakhstan[8] |
1 |
0.12 EH/s |
0.22 EH/s |
-0.22 EH/s |
0 EH/s |
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Middle East |
1 |
0.03 EH/s |
0.04 EH/s |
0 EH/s |
0.04 EH/s |
Notes:
4. Defined as the quantity of computing energy that might theoretically be generated if all mining machines which were energized are at the moment in operation together with mining machines which may be briefly offline.
5. Defined because the sum of Energized Computing Power and computing energy that has been put in however not but energized, if any.
6. Defined as the quantity of computing energy that has been delivered to the nation the place every mining project is situated in however not but put in.
7. Defined because the sum of Installed Computing Power and Expected Computing Power.
8. The Company introduced offline roughly 0.59 EH/s of mining computing energy in Kazakhstan and expects to uninstall the remaining 0.22EH/s within the area in July 2025 due to the change in business situations.
Recent Corporate Updates:
Executive Share Purchase
On June 9, 2025, the Company introduced that its chief government officer and its chief financial officer have acquired an combination of 817,268 American Depositary Shares (“ADSs”) at an average price of US$0.76 per ADS, demonstrating their continued confidence within the Company’s long-term prospects.
US$30 Million Stock Repurchase Program
On May 27, 2025, the Company introduced that its board of administrators has approved a share repurchase program underneath which the Company could repurchase up to US$30 million value of its excellent (i) American depositary shares (“ADSs”), every representing 15 Class A bizarre shares, and/or (ii) Class A bizarre shares, over the subsequent six months ranging from May 27, 2025.
Recent Operational Update:
Expansion of Self-Mining Operations
The Company has shipped roughly 1 EH/s of extra computing energy to U.S. websites. These machines are anticipated to return online by the tip of July 2025, underpinning its North American growth strategy.
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company specializing in ASIC high-performance computing chip design, chip analysis and development, computing gear manufacturing, and software program providers. Canaan has in depth expertise in chip design and streamlined manufacturing within the ASIC subject. In 2013, Canaan’s founding workforce shipped to its clients the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s historical past underneath the model title Avalon. In 2019, Canaan accomplished its initial public offering on the Nasdaq Global Market. To study more about Canaan, please go to https://www.canaan.io/.
Safe Harbor Statement
This press release accommodates forward-looking statements. These statements are made underneath the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology comparable to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Among different issues, the business outlook and quotations from management on this announcement, in addition to Canaan Inc.’s strategic and operational plans, comprise forward-looking statements. Canaan Inc. might also make written or oral forward-looking statements in its periodic stories to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-Okay, in its annual report to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic details, together with statements about Canaan Inc.’s beliefs and expectations, comparable to expectations with regard to income or mining hash price deployment, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. A quantity of elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Company’s targets and methods; the Company’s future business development, the flexibility of the company to execute in opposition to its targets, financial situation and outcomes of operations; the anticipated growth of the bitcoin industry and the price of bitcoin; the Company’s expectations relating to demand for and market acceptance of its merchandise, particularly its bitcoin mining machines; the Company’s expectations relating to sustaining and strengthening its relationships with manufacturing companions and clients; the Company’s investment plans and methods, fluctuations within the Company’s quarterly working outcomes; competitors in its industry; altering macroeconomic and geopolitical situations, together with evolving worldwide commerce insurance policies and the implementation of elevated tariffs, import restrictions, and retaliatory commerce actions; and related authorities insurance policies and rules referring to the Company and cryptocurrency. Further info relating to these and different dangers is included within the Company’s filings with the SEC. All info supplied on this press release and within the attachments is as of the date of this press release, and Canaan Inc. doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.
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